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528 Oak Street

528 Oak Street, Paso Robles, CA 93446

$955,000
Wonderful westside Paso Robles multi-family investment opportunity! Located just blocks from the vibrant Paso Robles downtown district, this offering includes a tastefully remodeled (and completely adorable!) 2BR/1BA 1940's home, a modest studio unit, and a sizable and newer block-construction building with 2 additional residential units. All together, there are 4 units on this street-to-alley T3-N (multi-family) lot - all within short walking distance to restaurants, banking, shopping and recreation. There is also an elaborate (owned) solar power system, providing additional monthly revenue to the property owner. Please note that the photos of the front house were taken approx. 2 years ago, prior to the current tenant moving in. The income numbers reflect the outgoing tenant's current rental rate ($1800/mo), but this unit will be delivered vacant and freshened up at close. About the home, it had a very elaborate remodel completed within the last 3 years, including all new kitchen & bath appointments, floor & wall coverings (hand-troweled drywall for a contemporary touch), windows, doors & hardware, plumbing, HVAC, etc. At approx. 800SF, it is cozy, but absolutely cute as a button! It also has a walk-in basement - ideal for tenant storage or to develop an ultimate wine cellar! Whether you choose to live in it as a second home in Paso wine country, or rent it again, it will treat you well. Behind the home is a vintage (70ish year old) 350SF Studio unit, currently rented to a long-term tenant at $800/month. It includes a 3/4 bath, fun tongue & groove pine ceiling and wall details, and a recently installed Mini-split HVAC. And then there is the duplex, accessed off the alley. This 36' x 50' duplex structure was built in 1989 and includes two LARGE 1-bdrm units (est. 900SF each) with BIG (16' tall) attached garages. One tenant has been here for 18 years while the other has been here just about a year and a half ($1,389 and $1,400/mo respectively). All tenants gel cohesively, which is nice with a multi-family property. Together with the solar power income, this property generates approx. $5,700/mo based on current rents. Further property improvements could easily push this above $6,000/mo. This is also located in 1 of just 3 'Qualified Opportunity Zones' in SLO County (tax benefits)! Zoning qualifies for vacation rental use (property changes & license would be needed). Offer submission deadline is 5pm on Wed, Nov 3rd!

3,000 Sq.Ft. LIVING AREA

0.161 Acres lot

Scott Ehrke

Scott Ehrke

Features & Amenities

Interior

  • Laundry room Laundry Closet
  • Flooring Laminate
  • Fireplace None
  • APPLIANCES Dishwasher, Gas Range, Refrigerator

Area & Lot

  • Status Sold
  • Living Area3,000 Sq.Ft.
  • Lot Area0.161 Acres
  • MLS® IDNS21224429
  • TypeMULTI_FAMILY
  • YEAR BUILT1942
  • Architecture StylesCottage

Exterior

  • STORIES1
  • Garage Space2
  • water SourcePublic
  • PoolNone
  • roofComposition
  • lot featuresNear Public Transit, Rectangular Lot
  • HEAT TYPEHigh Efficiency
  • AIR CONDITIONINGHigh Efficiency
  • sewerPublic Sewer
  • SubstructureStucco, Wood Siding
  • HOA AmenitiesUrban

Financial

  • Sales Price$955,000
  • Zoning T3-N

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Real Team 360 serves the Central Coast California real estate market, and the surrounding communities of Templeton, Atascadero, Creston, San Miguel and of course Lake Nacimiento. Whether you are considering buying a home, selling a home or both, we know this area inside and out.

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